Corporate Insolvency Resolution Process

CIRP (Corporate Insolvency Resolution Process) services refer to the range of professional services provided by Insolvency Professional Entities.

Here are some key CIRP services:

1. Insolvency Resolution Application: Assisting creditors, shareholders, or the corporate debtor in preparing and filing the application for initiating the CIRP.

2. Appointment of Interim Resolution Professional (IRP): Acting as an IRP to take control and custody of the corporate debtor’s assets, manage its operations, and protect stakeholders’ interests during the CIRP.

3. Financial and Operational Analysis: Conduct a comprehensive analysis of the corporate debtor’s financial statements, operations, and viability to assess its current state and identify potential resolution strategies.

4. Valuation Services: Assessing the value of the corporate debtor’s assets, including tangible and intangible assets, to determine their market worth for resolution planning or asset sale.

5. Stakeholder Communication and Management: Facilitating effective communication and coordination among various stakeholders, including creditors, shareholders, employees, and regulatory authorities, to ensure transparency and compliance during the CIRP.

6. Resolution Plan Preparation: Assisting in the formulation and preparation of a resolution plan, which outlines the proposed measures to revive the corporate debtor or maximize the value of its assets through restructuring, sale, or other means.

7. Negotiation and Mediation: Representing stakeholders in negotiations with potential investors, creditors, or other parties involved in the resolution process to reach mutually acceptable agreements and facilitate the implementation of the resolution plan.

8. Compliance and Regulatory Advisory: Providing guidance and support in navigating the legal and regulatory requirements associated with the insolvency process, including adherence to the Insolvency and Bankruptcy Code or relevant legislation.

9. Liquidation Services: In cases where resolution efforts are unsuccessful, facilitating the orderly liquidation of the corporate debtor’s assets and distribution of proceeds to stakeholders as per the liquidation process.

It’s important to note that the specific services provided may vary based on the jurisdiction and the nature of the CIRP.